Gold and silver decision time
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Here we go again; gold and silver have reached a decision point, they can reverse the trend and start heading up, or they will fail at these levels and head much lower. We are short and still sellers until our model turns positive.
The overall trend is still bearish, with a negative key reversal for November adding more fuel to the fire. $1,840 February gold and $24.5 March silver are the key levels to watch. They will have to close above those levels for a reverse to the long side to even be considered.
Our bearish stance remains until there is proof of a change. We remain bullish on platinum and are looking for a big up move. Obviously, we don’t make predictions; every decision is based on math and our algorithm. Our only view here is the rally will fail, but we are watching.
Futures and Commodities with Andy Hecht and Technomental: Our webinar on Saturday was fantastic, here is the recording